Spitskoppe Uranium Project
OverviewThe Company has a 90% interest in two granted tenements (EPLs 3477 and 3523) prospective for Uranium and covering approximately 505 sq kms. The project lies to the west of the Erongo Granites Project. The Company is targeting secondary calcrete-hosted mineralisation as well as granite-hosted mineralisation.
Both tenements lie within an ancient drainage system downslope from surrounding granites elevated in uranium. Prior to the Company’s involvement there had effectively been no previous exploration work on these tenements.
The Company received environmental and access clearance to commence detailed field work on these licence areas in July 2007.
Current exploration programme and results
During 2007 and 2008 the Company completed detailed exploration work over a number of target areas within the project, including acquiring and reprocessing regional magnetic and radiometric data, field mapping, ground scintillometer surveys, rock chip sampling, trenching, pitting and RC drilling.
Field work identified several zones of strong calcrete development for pitting and drill testing. Uranium mineralisation (carnotite) was identified in the calcretes in several pits excavated down to a maximum of 1.5m. The initial drill programmes did not intersect significant mineralisation. However a number of drill holes intersected low grade uranium mineralisation (<60ppm U3O8). This together with visible uranium mineralisation at surface confirms the model that uranium has been transported by an ancient drainage system through the project area. The Company has identified a number of other zones of calcrete development for testing.
Several high order radiometric anomalies were identified in primary granite exposures. A 500m trench was also excavated on EPL 3523 across a radiometrically anomalous area in which coarse grained granites and pegmatites have intruded a mica schist. Assay results confirmed that high scintillometer readings were related to thorium and lower uranium mineralisation (maximum of 123ppm U3O8).
A large part of the project with potential for new discovery remains unexplored.
